Social Security checks: Going up by 3.3 percent

**pcfrisch** · 10-18-2006

Ha Ha, I would have gotten a larger raise if I were retired!

WASHINGTON -- Social Security checks for nearly 49 million Americans are going up by 3.3 percent in 2007, a smaller percentage gain than this year, the government announced Wednesday.
The cost of living adjustment will translate into an average monthly increase of $33 for the typical retired worker, pushing the average monthly benefit from $1,011 currently to $1,044.
http://www.detnews.com/apps/pbcs.dll...DATE/610180430

JEB · 10-18-2006

Which is why you can't rely on the government to fill your retirement needs. It should only be a supplement.

systronic · 10-18-2006

12,000 a year is actually the POVERTY line. i should have enough in my 401k by the time im 60 to buy that ford gt i want

napalmbomb · 10-18-2006

Just shows that Social Security is nothing more than a Ponzi scheme.
Everyone under the age of 45-48 is screwed, all the money you have paid in is gone. You can do better with a passbook savings account at 2%.

Twister · 10-19-2006

Quote:

Originally Posted by napalmbomb

Just shows that Social Security is nothing more than a Ponzi scheme.
Everyone under the age of 45-48 is screwed, all the money you have paid in is gone. You can do better with a passbook savings account at 2%.

lol, where can you get that?

**pcfrisch** · 10-19-2006

You silly people, I was reffering to the raise they got. I got 3% working, they got 3.3% not working.
I realize you can't live on S.S. alone. I remember there was this congress woman who said we need children so they can pay her S.S. when she retires. Sheesh. Come to think of it, I don't think they have S.S. I believe it is some other benefit that is much better.

Saleen Owner · 10-19-2006

Quote:

Originally Posted by pcfrisch

I remember there was this congress woman who said we need children so they can pay her S.S. when she retires. Sheesh. Come to think of it, I don't think they have S.S. I believe it is some other benefit that is much better.

They get full benefits at age 50. The average yearly retirement package to retired congressional members is $45k. It has been calculated to amount to about $60k a year in extra pay on top of their salary during their term(s).